Issues have come up with some Costco members not getting their new Costco Visa credit card in the mail or some seeing delays in getting their new cards activated.
Citi says that you won’t lose any of the cash back rewards you’ve already earned from your Costco card from American Express.
About 7 million consumer accounts were affected by Citibank’s “deceptive” marketing, billing, and administration of debt protection and credit monitoring add-on products, the Bureau said.
Some lawmakers are calling for U.S. Department of Labor hearings on whether banks accused of rigging foreign exchange markets should be allowed to manage retirement accounts or pension funds.
The most important protection that small biz owners are missing is the rule that prohibits credit card companies from raising interest rates on existing debt — unless a cardholder is at least 60 days delinquent.
Costco, the nation’s 2nd-largest retailer, will start accepting Visa — instead of American Express — at its U.S. stores on April 1, 2016.
You can avoid these fees as long as you have enough money on deposit. However, lines of credit, mortgages, credit card and loan balances will no longer be counted toward that limit — making it more difficult for other customers.
“This consumer relief menu includes new measures such as $200 million in typically hard-to-obtain financing that will facilitate the construction of affordable rental housing …”
Some of the blame belongs to forgetful consumers who don’t keep track of the rewards points they’ve been earning. But the study also found that limitations set on redemption and the way points can be earned prevent cardholders from realizing the full potential of rewards programs.
It’s a smart move that allows consumers to apply Citi’s reward points toward paying off their other bills.